Industrial Control Systems Market Size (2024 - 2029)

Industrial Control Systems Market Analysis

The Industrial Control Systems Market size is estimated at USD 185.28 billion in 2024, and is expected to reach USD 283.77 billion by 2029, growing at a CAGR of 8.90% during the forecast period (2024-2029).

The rising cost of labor and the immense pressure on manufacturers to meet strict deadlines are resulting in the increased deployment of automation in factories. The automation of factories has fueled the market for ICS.

• Connecting the industrial equipment and machinery and obtaining real-time data have played a key role in the adoption of SCADA, HMI, PLC systems, and software that offer visualization, thus, enabling reducing the faults in the product, reducing downtime, scheduling maintenance, and switching from being in the reactive state to predictive and prescriptive stages for decision-making.
• In addition, the quality control issue involved with human error is minimized, owing to the systems' efficiency, reliability, and faster work rate. Moreover, the demand for mass production in manufacturing industries fuels the need for industrial controls to cater to the demands of growing population.
• Moreover, government efforts such as Germany's Industry 4.0 and France's industrial plan are likely to drive demand for IIoT solutions, which may, in turn, enhance demand for ICS security solutions and services in the future. A serious cyber catastrophe may result in significant financial losses, brand damage, consumer trust loss, intellectual property theft, safety concerns, and even death. As a result, to protect its ecosystem from any financial, operational, or human losses, ICS may need security mechanisms to audit and assure compliance.
• Due to the high rate of adoption of connected devices and sensors and the enabling of M2M communication, there has been a surge in the data points generated in the manufacturing industry. According to Zebra's latest manufacturing vision report, IoT and RFID-based smart asset tracking solutions are expected to overtake traditional, spreadsheet-based methods by 2022.
• The pandemic's impact has forced organizations to adhere to strict requirements while ensuring their employees' and customers' safety. As a result, the need for automated solutions witnessed a sudden spike. This could be observed as a notable trend in the foreseeable future. As the world continues to fight the spread of the COVID-19 pandemic, factory automation with robotics plays a crucial role in helping safeguard people and processing the supplies needed by the end user.

Industrial Control Systems Industry Segmentation

Industrial control systems comprise various automation equipment, machines, and components. These systems are developed to monitor, control, perform multiple industrial tasks and automate processes with high precision, improving product quality and reliability. Organizations are adopting industrial control systems from various industries due to the increasing focus on attaining energy efficiency in manufacturing processes.

The ICS market is segmented by operational technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Intelligent Electronic Devices (IED), Human Machine Interface (HMI), and other systems), by software (Asset Performance Management (APM), Product Lifecycle Management (PLM), Manufacturing Execution System (MES), Enterprise Resource Planning (ERP)), by end-user industry (oil and gas, chemical and petrochemical, power and utilities, food and beverages, automotive and transportation, life sciences, water and wastewater, metal and mining, pulp and paper, electronics/semiconductor, other end-user industries), and by North America (United States, Canada), Europe (Germany, United Kingdom, France, and the rest of Europe), Asia Pacific (China, India, Japan, and the rest of Asia Pacific), Latin America (Brazil, Argentina, Mexico, and the rest of Latin America), Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, and the rest of Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.